Can I have a simple, clear , correct answer to Q 14 and 15 plz...
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Accounting
Can I have a simple, clear , correct answer to Q 14 and 15 plz
Q1. Suppose that the supply is Qs=4p14, and demand is Qd=30p. Now suppose that a price ceiling of $6 is imposed. Compared with the free-market equilibrium, the total surplus decreases. Answer the following questions: 13. Who get the products produced at the best-case scenario? How much does total surplus decrease under best-case scenario? ( 2 points) 14. (Bonus Question). Who get the products produced at the worst-case scenario? How much does total surplus decrease under worst-case scenario? (2 points) 15. (Bonus Question). If the products produced are randomly assigned to consumers (c.g. the allotment of car license plates in Beijing, China), how much does the total surplus decrease? (2 points)
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